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Buying Tips | Selling Tips

Planning to Buy

Determine your how much you can afford by talking to lenders who can pre-qualify or pre-approve you for a mortgage.
Choose a Realtor® who will help discover your needs and assist you in locating prospective properties. These days, a Realtor® should be computer savvy in order to use all the resources available to him or her for efficiently searching for properties.

Find the Right Area

Questions you should be asking yourself in order to locate the right area or region.

Do you like urban, sub-urban, semi-rural or rural areas?
What type of land and or views are you most fond of? Examples: golf course, hills, lakes, ocean, and gulf.
How far do you want to travel or commute?
Where do you typically shop? Think about your week for a moment and write down a list of places that you need to visit on a regular basis. How far are you willing to travel in order to get to these destinations?
Are schools a factor in your decision?
What type of recreation are you wanting to be near? Are you looking for a nightlife?

Find the Right Neighborhood

Questions to help you find the right neighborhood.

Are you looking for a neighborhood where families socialize, hold block parties and holiday gatherings? Or are you looking for a private retreat?
What type of building do you like? Single family home, high rise condominium, villa?
What type of amenities do you need? Golf, Tennis, country club?
How conveniently located is the neighborhood?
How do children typically get to school? Bus, walking and riding their bicycles?

Choosing Your Home

Make a list of features you are wanting. Your agent can use resources to find prospective homes in the area that fit your specifications.
Keep a notebook of likes and dislikes of the homes you have viewed.
Take a digital camera to help you recall details of the properties you have viewed.
Your agent should find out the financial details of the home such as previous assessments, property taxes, home owner's association dues.
Your agent should do a comparative market analysis to determine how the asking price compares to other homes for sale in the area.

Making the Offer

Once you have found a home, your agent will assist you in making an offer. Your agent should go over the document with you to be sure you understand the terms thoroughly.
When you have decided on an offer, your agent will present it to the listing agent and the seller who will either accept it, reject it or present a counter offer.
After acceptance, the offer becomes the Sales Contract and you will submit an earnest money deposit to show the seller you are "earnest" about your desire to buy the property.

Financing & Contingencies

After the Sales Contract has been fully executed you will enter a contingency period.
You will re-visit your lender to firm up the details of your mortgage loan. Upon final approval of the loan, your lender will send a commitment letter to the seller indicating that your financing contingency has been met.

Inspections

Before closing on the sale of your home, your agent will schedule several inspections.
Termite inspections are usually required by mortgage companies.
You may hire a traditional home inspector to inspect appliances, foundation, roof, air conditioner and the general condition of the home.
You will also do a final walk through of the property prior to the closing to determine if all conditions have been satisfied before settlement.

Closing

Prior to closing, your attorney or title company will advise you of the settlement amount and you will need to bring a cashier's check made payable to the closing agent.
Alternatively you can arrange a wire transfer of funds to the closing agent.
At the closing, all parties are usually present as well as the Realtors® and closing representative.
Seller will bring home warranty information and keys.
The title company or attorney will have already searched the title, provided title insurance and prepared a closing statement for the buyer and seller.
You will be signing the closing statement, mortgage note and deed of trust.
Finally, the keys are passed and congratulations you are a homeowner!

Preparing to Sell

Take a good look at your home through "buyer's eyes" before placing it on the market.
Do a "walk-thru", starting at the driveway and walk up to your home and through it looking closely at the details that a potential buyer will notice about your home.
Take time to correct these small details and it will be worth your while.

Exterior

Make sure your lawn and landscaping look their best by keeping it trimmed and removing garden hoses and tools.
Repair broken tiles in the walkway and keep it clear of lawn debris.
Put fresh mulch in your flowerbeds if it is needed.
Pressure wash the exterior of your home or give it a new coat of paint if needed.
Make sure your front door is clean and fresh. Consider a brass doorknocker or seasonal door decoration as an extra touch.

Interior

Make your home inviting by lighting a scented candle of two. Fresh flowers are nice too.
Turn on all the lights for evening showings to create a welcoming glow.
Make sure the interior is tidy and uncluttered.
If walls need it, touch up with fresh paint.
The kitchen should be immaculate. Especially the stove and oven. Keep counter tops free of clutter and appliances should be in good working order.
Bathrooms should also be immaculate. Repair caulking and grouting. Remove rust stains and make sure tiles and porcelain are free from soap film.

Showings

If you are home during your showing try to busy yourself and your family outside or in another part of the house. Too many people present during the showing will distract potential buyers.
Try to keep noise such as radio and television to a minimum so that the buyer and his Realtor can hear each other. Chatting with the buyer may also serve as a distraction.
Keep pets outside or in another room during the appointment. Some prospects maybe intimidated by your pet.
Do not discuss price or terms directly with the potential buyer or his agent. Your agent is most qualified to handle negations.

Paperwork

If you have received an offer on your property, you and your agent will decide whether to accept the offer or whether to counter offer.
Your agent will go over the sales contract with you and prepare the counter offer.
Once the final contract has been accepted and executed by all parties, the buyer will choose a title company or attorney to handle the closing.
If there is a mortgage contingency that will usually be satisfied in 45 to 60 days.
You should keep your property in showable condition in case the buyer’s financing falls through.
During the mortgage contingency period the mortgage company will order an appraisal to make sure the property is adequate security for the loan amount.
Finally when the loan is approved the mortgage company will prepare a loan commitment document. After the loan approval is received, the listing and buyer’s agent will coordinate the closing date.
Before you close on the sale of your home, the buyer’s agent or mortgage company will schedule several inspections. Usually a termite inspection is required by the mortgage company.
Additionally, the buyer may hire a traditional home inspector to inspect the appliances, foundation, roof, air conditioner and general condition of the home.

Closing

Finally, closing day is here! Here is a checklist to help you prepare for the big day:

Gather equipment warranties and instructions and bring to the closing or leave in your home.
Find out what your seller closing costs will be – click here to use our estimator
Make sure all final walk thru deficiencies have been resolved.
The attorney/closing agent will search the title.
At the closing the attorney/closing agent will explain the settlement statement and deed and obtain seller signatures.
Closing costs will be deducted from your proceeds.
Finally, bring your keys! Keys will be given to the buyer at the closing.
Funds will be disbursed by the attorney or closing agent after all checks have cleared the escrow account.